He needs it to be himself. Wealth is the source of his self identity, his imagined powers.
Trump no longer on Bloomberg Billionaires Index after Truth Social stock plummets
- Thread starter Guno צְבִי
- Start date
He needs it to be himself. Wealth is the source of his self identity, his imagined powers.
ThatOwlWoman
Leftist Vermin
Guno צְבִי;5956771 said:
Just kidding. Love it! Everything the orange toadstool touches dies.
I wouldn't be at all surprised if some sort of criminal charges come out of this hilarious disaster.
Dutch Uncle
* Tertia Optio * Defend the Constitution
Trump was always a liar. It’s just that MAGAts want to believe the dream, not the reality.
Dutch Uncle
* Tertia Optio * Defend the Constitution
True, but mostly it’s because he sucks the life out of it, mostly the money. He’s a money vampire.
Just kidding. Love it! Everything the orange toadstool touches dies.
I wouldn't be at all surprised if some sort of criminal charges come out of this hilarious disaster.
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NiftyNiblick
1960s Chick Magnet
Money is extremely important and necessary for anybody.
There's obviously such a thing as not enough,
and probably no such thing as too much.
That's why I don't care about ceilings once everybody has an adequate floor.
True socialists worry only about floors.
To me, the problem comes when we use use money to keep score rather than
to enjoy life more than we possibly could enjoy life without it.
If all of our energy is applied to accruing more money,
we're doing a piss poor job of enjoying the money that we have.
That's self abuse that most likely involves abusing others as well.
There's obviously such a thing as not enough,
and probably no such thing as too much.
That's why I don't care about ceilings once everybody has an adequate floor.
True socialists worry only about floors.
To me, the problem comes when we use use money to keep score rather than
to enjoy life more than we possibly could enjoy life without it.
If all of our energy is applied to accruing more money,
we're doing a piss poor job of enjoying the money that we have.
That's self abuse that most likely involves abusing others as well.
Dutch Uncle
* Tertia Optio * Defend the Constitution
If that’s the case, then they are a secular form of Prosperity Christians; there’s money for themselves and a minimum for everybody else.
At least that’s how it worked out in the USSR and the PRC. North Korea and Cuba are there too.
QP!
Verified User
Yup.
The amount of debt/leverage Trump has on all his properties has never been disclosed but Trump always bragged about how much he loved to use lots of debt against his assets. He called himself the King of Debt.
So if i had to bet, i would bet Trump is actually insolvent (bankrupt) as he would have borrowed as much money as he could against the fraudulent values of his assets and now that bubble is burst, i bet the debt exceeds the true value.
That and his property values with his name have plummeted, something that would improve if he merely removed the scourge of his brand from everything.
NiftyNiblick
1960s Chick Magnet
I watch PRC television on Netflix.
They seem to live more like we do than any other East Asians,
including South Koreans and Japanese.
I realize that's TV,
but since all of Asia has seen its last of me,
I won't be checking it out personally.
Seriously, though, the PRC looks much like us
without the challenge of ethnic diversity that we have.
Dutch Uncle
* Tertia Optio * Defend the Constitution
You believe state-controlled TV? Interesting, neef. What else do you believe coming out of the PRC?
NiftyNiblick
1960s Chick Magnet
I'm in no position to believe or disbelieve it,
nor do I have any idea as to the extent of its state control.
However, why would any Mandarin speaking people even watch these shows
if they didn't reflect anything approaching real life?
The shows were made for them, not for us. They're in Mandarin with English subtitles added for a foreign audience.
Netflix is in the entertainment business, not in the state propaganda business.
China gets to watch some of our shows too.
His facade of having been wealthy is falling apart. Seems he was over leveraged and the presidency is his desperate attempt to fix that.
Dutch Uncle
* Tertia Optio * Defend the Constitution
The fact they censor the Internet and movies speaks for itself.
Dutch Uncle
* Tertia Optio * Defend the Constitution
I have no doubt he’s wealthier than all the JPP members put together, but, yes, the facade on how wealthy he is has fallen apart.
Mostly he’s proven he’s greedy. He’s a rich man asking middle to lower class fans for donations so he doesn’t have to sell a golf course or hotel to finance his political entertainment.
It is a bad time to be over leveraged in commercial real estate. Worse yet he has a brand name that is terrible among upscale consumers. I don't know if he can steal enough to keep himself afloat, but I do know that trump will try. trump is generally lazy, but he does love stealing.
The places trump can go for money are limited, so a lot of the holders of his debt are on the edge. They cannot give him debt forgiveness.
The $100 million debt is with "Axos Bank", which is a barely existing bank that does have FDIC insurance. That means that if this loan fails, then "Axos" fails, and the FDIC becomes legally involved. If trump is elected, we might have a situation where the FDIC is prosecuting a sitting president.
Dutch Uncle
* Tertia Optio * Defend the Constitution
Between his leveraging and his court fines, present and future, he’ll be a lot less wealthier in the next five years. No amount of meth-stained $5 and $10 bills will be able to bail him out.
Unless someone has money to throw away, the major donors will get behind someone else.
QP!
Verified User
I would bet he is not.
I would bet he is actually insolvent, meaning his liabilities (debts) exceed the total asset value he has.
Trump bragged about how much he liked debt. How he was the King of debt. And he was known for pushing the limits on that debt.
On mature real estate portfolios, you often see them 80% leveraged, with the 20% equity cushion being enough for lenders, since real estate was seen as such a stable and growing asset class.
If a normal Portfolio buyer could borrow 80% against, i would not be shocked if Trump borrowed 85% or more against, by paying higher rates. Add to that, that Trump would have been borrowing against a greatly inflated fraudulent asset value, that has now come down, and i would not shocked if Trump's debt is 110% or more of his assets.
Trump is a terrible business man who simply cannot learn from his mistakes from the past and count his blessings when prior bankruptcies were staved off at the last minute by Russian and Mob money, and then the Apprentice.
Dutch Uncle
* Tertia Optio * Defend the Constitution
Forbes still values him at $3B with caveats.
https://www.cbsnews.com/news/donald-trump-net-worth-how-much-money/
The financial pressure on Trump comes as the former president's wealth has declined, according to Forbes' assessment of his net worth. Trump is no longer wealthy enough to be included in the Forbes 400, its annual ranking of America's richest individuals, although he remains a billionaire with assets valued at $2.6 billion as of February 2024, the magazine estimates.
In 2022, Forbes pegged his wealth at $3 billion, while in 2016 his worth was estimated at $4.6 billion.
How much is Trump worth?
As of mid-March 2024, Forbes estimates Trump's net worth at $2.6 billion, putting the real estate developer at No. 1,290 on the magazine's list of the world's richest people.
Although his wealth has dropped, the combined $88.3 million awards stemming from the Carroll rulings represents a small fraction of his overall wealth.
NiftyNiblick
1960s Chick Magnet
Again, that may be true or not.
Chinese officials have not consulted with me personally on the issue.
I personally have no reason to care, one way or the other.
My dealings with the Chinese takes place in nice restaurants. They're quite pleasant.
The issue is not whether you or I like the PRC. Nobody cares about that.
My only point is that their everyday life looks more like that with which I'm culturally familiar
than does everyday day life depicted on Japanese or South Korean "free world" domestic television.
If it were completely fabricated, the Chinese wouldn't watch it. These are their domestic shows offered to us by Netflix
and they see some of ours as well.
When we became their best customer for consumer goods, they themselves became more like us and
less traditionally Far Eastern, culturally.
As for politics and economic theory, we don't even agree with one another.
Who gives a damn what the Chinese are doing?
